Telecommunication or Telecom in short refers to interchange of information by electronic and electrical means over near and quite significant distances. It is rather a generic term used for a wide range of info transmission technology like mobile phones, land lines, Broadband, VoIP and broadcast networks. In telecoms, information are transmitted among the communication participants in form of electrical signals referred to as carrier waves, which can be modulated into analog and digital signals for transmission, and then demodulated into its original data form i.e. image, audio or video. Telecom technicians play major roles in delivering Internet, phone and digital services to their customers.
Communication is one of the extremely important aspects, not only for people around the world, but also for small to mid-sized and large businesses. If communication were to fail, then the world would not be what it is now and would go into a stand still. Though there are numerous challenges being faced in the telecom sector, the recent advancements promise to take care of the flaws and resolve the issues lurking in this. Blockchain is one such aspect of technology that holds tremendous potential to influence the telecom industry and projects a promising future trajectory for communications to move forward.
Blockchain in telecom- What’s new?
Roaming
Blockchain could possibly solve the problem of operators to integrate costly systems and provide authentication or access settings to enable roaming call across operators and networks. Blockchain can also enable complex and numerous data sets across multiple parties, in real-time providing security and trust to establish subscriber’s identity.
Internal operations
Process like the OSS (Operation Support System) and the BSS (Business Support System) process like billing and number portability databases can be streamlined with blockchain. The billing can be validated without hassle. It is possible with the help of blockchain shared among customers, VAS providers, HPMN, VPMN and telecom companies.
Also, migrating customers could be easily on-boarded onto the network after receiving a porting request, if the receiving operator shares any blockchain with the porting customer’s operator.
Smart connections
With the help blockchain, operators can provide device connection to multiple local hotspots and WIFI based on permission and adherence to provided terms and conditions. Blockchain also helps with automatic generation of billing amount, transactions and payment receipts.
Mobile money
Blockchain has enabled cost-effective international remittances across the globe with very minimal transaction charges. Telecom operators can become global remittance providers.
Smart transactions
Blockchain has enabled purchasing of digital assets, including music, mobile games, gift cards and loyalty points.
Privacy
Operators could develop identity management tool that are accessible to organizations, devices and applications.
Compliance
Blockchain solutions are instrumental in enabling interoperability between internal as well as external systems for telecom companies. This can bring down infrastructure as well as compliance cost, and save operators from roaming/identity fraud.